Ending a cascade of events that saw Marineland Dolphin Adventure all but sold to a commercial developer, a federal bankruptcy judge in Wilmington, Del., this morning approved the sale of Marineland Dolphin Adventure for $7.135 million to Apex Associates, a Green Cove Springs company owned by a philanthropic couple who pledge to preserve and broaden Marineland’s mission as an oceanarium.
The bidders, Barbara and Jon Rubel, are backing Jack Kassewitz, a dolphin expert who is returning Felicia Cook to her former role as the general manager at Marineland, and whose wife Donna Kassewitz, was a founder and shareholder of the Mexico-based Dolphin Company that owned Marineland Dolphin Adventure.
“Pretty amazing,” a nearly breathless Kassewitz said shortly after the hearing. “I’m 78 years old. This is one of the most remarkable events of my life, where the community came together to save Marineland. We all did it. This is a victory for everyone. I had people who were there when they were 1 year old. This is a remarkable event, and it’s the beginning, because now we’re going to go in and make it so much better.”
Closing is set for December 5. It is a hard date. “This one can’t slip,” Paul Keenan, an attorney for the estate in bankruptcy, said. If closing fails with Apex, Marineland will go to the next bidder.
Dolphin Company filed for bankruptcy last year. Marineland Dolphin Adventure and more than a dozen other companies in the United States did so in March.
“I will find that not only has the debtor exercised its business judgment appropriately, but that I too believe that this sale to Apex and the backup bidders is appropriate in these circumstances,” Federal Bankruptcy Judge Laurie Silverstein said in a 50-minute hearing in Wilmington. “I will approve Apex as the highest bid,” she said shortly before 11 a.m.
Delightful Development LLC is the first backup bidder. St. Augustine-based Hutson Companies is the second backup bidder. The Marineland property was initially set to sell to Delightful Development, owned by Texas-based commercial developer Craig Cavileer. Kassewitz and Apex mounted a vigorous protest, saying they’d been denied a chance to bid over a technicality. They won their argument.
The auction was reopened last Monday, and their bid displaced Delightful Development’s, even though its cash value of $6.5 million was less. But since Apex will not incur the heavy costs of “winding down” the Marineland property as an oceanarium, the in-kind difference favored Apex, as did the interest in keeping the 87-year-old property not only as the world’s first oceanarium, but as its longest-operating one.
Silverstein was especially complimentary of the groundswell of public support to preserve Marineland as a Flagler County trademark.
“Whether they have standing or not, there was clear, clear voice coming from members of the dolphin community and members of the Flagstaff community,” the judge said. She meant to say Flagler. “Let me particularly note the letters I got from the Flagler Palm Coast High School students there, and their teacher. And I appreciate the engagement and encourage young people to continue to engage when they see something that is important to them.”
Silverstein was referring to 75 letters written by freshmen and sophomores in Flagler Palm Coast High School English teacher Amanda Zimmerle-Harding–and one by Harding herself–urging the judge not to let Marineland go to more commercial or housing development. The letters were first reported here Tuesday. (Read them in full here.)
Silverstein also approved the $500,000 cash sale of three dolphins, a mother and two siblings who have lived in Marineland for years, to offset costs incurred by the debtors. The three dolphins are being sold to Islamorada-based Theater of the Sea.
“Theater of the Sea is an established and family-owned and licensed educational marine park that’s been operating since 1946,” Allison Mielke, an attorney for the debtors, told the court. The company has the requisite permits in hand, and has had a handler at Marineland for weeks, developing bonds with the dolphins “They’re well prepared to transferring the animals.” Apex is not contesting the sale, nor is anyone else.
The sale of the dolphins is “critical to the debtors’ ability to continue these chapter 11 cases, given the current debt, budget and financial circumstances of the debtors,” one of the debtors’ lawyers said, and to finance the debtors’ immediate cash needs.
The judge repeatedly asked if there were any objections to any of the recent developments and proposed sale. There were none.
“The only reason we are here today,” Apex’s lawyer told the court, is “mostly because of the determination, your honor of the Rubels, and the Rubels cannot be told no, with respect to their desire to preserve this park and keep the animals in place. And it’s that determination, your Honor, that put us in front of you today, and seeking approval of the sale.”
Kassewitz said he would also contact Bobby Bossardet, the principal at FPC, to thank him personally and talk about other possibilities involving the school and its students crafting a new logo for Marineland. “This is such a win, right now in a country that’s so divided,” Kassewitz said. “What a wonderful win that the people can come together and do what was done here.”
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